With the recent authorization by the Federal Government for the operation of fixed-odds betting companies, commonly referred to as "Bets," a rigorous regulatory process has been initiated to ensure that companies in this sector are properly licensed to operate in Brazil. To this end, Ordinance SPA/MF No. 827, dated May 21, 2024, was enacted, establishing the necessary documentary requirements for the licensing of betting companies.
The required documents are listed in Articles 8 to 12 of the aforementioned ordinance, covering essential aspects such as legal, tax, and labor compliance, as well as economic, financial, integrity, and technical requirements. Additionally, the ordinance specifies the deadlines and methods for submitting each document, detailing what is expected from each company during the licensing process.
It is important to emphasize that those involved in this process understand the importance and complexity of the required documentation, as any failure in the submission or completion of the documents can result in significant setbacks. If any document is adjusted or flagged by the Gaming Secretariat as non-compliant with the required standards, the company's application will be moved to the end of the analysis queue, restarting the evaluation period and, consequently, delaying the issuance of the license.
Therefore, every detail must be handled with utmost diligence. The signing of documents and the completion of information must be precise, without omissions or errors. The company must also ensure that its administrative structure is fully compliant, confirming that the directors appointed for specific roles can demonstrate their experience in the respective areas, while also being mindful of the prohibition of cumulative positions within the company's management.
Furthermore, it is advisable for the company to maintain constant monitoring of the deadlines established for document submission and to be attentive to any feedback or requests from the Gaming Secretariat. Completing all steps promptly and without errors will ensure that the licensing process proceeds smoothly, resulting in the granting of authorization to operate within the national territory.
Finally, it is worth noting that strict compliance with the documentary requirements and established deadlines not only facilitates the acquisition of the license but also reflects the company's commitment to transparency, legality, and trust in the Brazilian betting market.
Manucci Advogados has extensive experience in Regulatory Law, particularly in the Gambling market, and can provide further clarification on this matter.